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Prescribed qualifications and requirements for key executive officer

Estate Agents (Licensing and Registration) Regulations 2010

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—(1) Subject to the requirements of the Act, a key executive officer of an estate agent must satisfy the following requirements:(a)he must be the sole proprietor, a director or a partner of the estate agent;(b)he must —(i)be 21 years of age or older; and(ii)subject to paragraph (2), have a minimum of 4 GCE “O” level passes or obtained an equivalent or higher qualification as determined by the Council;(c)he must have at least 3 years of experience in estate agency work; (d)he must —(i)have completed at least 30 property transactions (acting for any house agent or estate agent or as the holder of a house agent’s licence or an estate agent’s licence) in the 3 years immediately before his appointment; or(ii)have at least 3 years of experience in managing the business of a house agent or an estate agent as an executive director, a chief executive, key executive officer, partner or sole proprietor;(e)subject to paragraphs (2), (3) and (4) and regulation 10(2), he must, within the 2 years immediately before the appointment as a key executive officer, pass the Real Estate Agency examination.(2) Paragraph (1)(b)(ii) and (e) does not apply to the holder of any of the degree and diploma qualifications specified in the first column of the First Schedule issued by the institution specified opposite in the second column of that Schedule, if the holder enrolled for the degree or diploma qualification before 1 April 2020.(3) Paragraph (1)(e) does not apply to the holder of any of the degree and diploma qualifications specified in items 1 and 7 of the first column of the First Schedule issued by the institution specified opposite in the second column of that Schedule, if the holder —(a)enrolled for the degree or diploma qualification on or after 1 April 2020; and(b)has, in the 2 years immediately before the application for a licence, passed Papers 2 and 3 of the Real Estate Agency examination.(4) Paragraph (1)(e) does not apply to a key executive officer who passed the Real Estate Agency examination more than 2 years before the appointment as a key executive officer —(a)if the key executive officer was on the date the key executive officer passed the Real Estate Agency examination, and had since that date continuously been, any one or more of the following persons (called in this paragraph relevant persons):(i)a specified individual; (ii)a key executive officer of any licensed estate agent;(iii)a registered salesperson of any licensed estate agent; or(b)if the key executive officer —(i)was on the date the key executive officer passed the Real Estate Agency examination, and had since that date continuously been (other than any break not exceeding 2 years each), any one or more of the relevant persons; and(ii)had satisfied the CPE requirements under the Act —(A)for the year or years that the key executive officer had been any one or more of the relevant persons; and(B)for the year or years during which the key executive officer had ceased to be any one or more of the relevant persons, as if the key executive officer had not ceased to be such relevant person or persons.

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